U.S. Federal government and businesses face a challenge addressing cybersecurity compliance, oversight and assurance.

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U.S. Federal government and businesses face a challenge addressing cybersecurity compliance, oversight and assurance. FISMA, and the associated Risk Management Frameworks requires Federal Agencies to adopt a risk based approach to business; the complexity, sophistication and impact of cyber attacks is rising; the cyber insurance industry is reported to be struggling with the systemic impact of cyber attacks and Small Businesses which make up a significant number of international supply chains cannot afford to implement the appropriate level of cybersecurity required to protect their balance sheets, customers and suppliers.

Working with Ted Dziekanowski, Brian McCarthy and Jason Spezzano we have created a proposal which leverages existing control frameworks. Which are over sought by 1000’s of highly qualified professionals, regulated ultimately by US Federal Government and addressing international reciprocity of oversight and assurance. Our objectives were very clear, to address the challenges of cyber oversight and assurance, and present a solution for cyber controls inheritance faced by all companies. Using existing international Controls principles under COSO and SOC2, applied by businesses under frameworks such as Sarbanes Oxley.

It’s not a magic bullet, as one does not exist. But the proposal provides a realistic, efficient and cost affective alternative to the oversight of cybersecurity, aligned to FISMA and with Federal support can help small business achieve cyber compliance. Appropriate industry specific cybersecurity framework profiles can be applied to an industry sector, with oversight and assurance by existing qualified resources, supported by cybersecurity professionals.

The Augusta Group has the Augusta plan on its website and Small Business Paradigm. The timing coincides with the 80th anniversary of the meeting of FDR and Churchill and the recent announcement of a reaffirmation of the Atlantic Charter by the White House.

Please let me know your thoughts, comments and feel free to share.

#theaugustagroup‚ #theaugustaplan‚ #cybersecurity‚ #SupplyChainRiskManagement‚ #CyberRiskManagement‚ #compliance‚ #cyberinsurance‚ #insurance‚ #regulatorycompliance‚ #regulatoryoversight‚ #esgrisk‚ #cyberregulation‚ #esgreporting‚ #soc2‚ #defenceindustry‚ #esg‚ #defence

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